ion 19 of 19> Determine how each scenario will impact either supply or demand in

Question

ion 19 of 19> Determine how each scenario will impact either supply or demand in the given market. Scenario In the market for The price of goose feathers, an input for pillows, increases sharply. pillows Researchers develop a higher-yielding, insect-repellant strain of rice. rice During the Great Recession, the average income for an American worker fell sharply. During that time, families began preparing meals from restaurants more of their own meals. Spam unveils a new flavor, barbeque, which has students Spam intrigued. The students transition from buying ham to Spam. iDecide, a consulting Answer Bank supply curve changes demand curve chan

Explanation / Answer

Scenario Effect 1. The price of Goose feathers an input for pillows increases sharply. Supply curve changes (Decreases or shifted leftward) 2. Researchers develop a higher yielding, insect repellant strain of rice Supply curve changes (Increases or shifted rightward) 3. During Great recession, the average income fell sharply. Demand curve chnages (decreases or shifted leftward) During the time, families began preparing more of their own meals 4. Spam unviels a new flavor. The students transition from buying Ham to spam Demand curve changes (Increases or shifted rightward)

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